Thai food delivery app Lineman Wongnai bags $265 million

Sep 27, 2022Updated Jun 4, 20251 min read

hai food delivery app Lineman Wongnai on Monday said it has raised US$265 million from Singapore’s GIC, PTT Oil and Retail Business, Taiwan Mobile, and other investors.

The startup said the investment round puts the company’s value at over US$1 billion, making it a ‘unicorn’ firm.

The announcement comes as competition heats up among food delivery apps in Thailand, including the homegrown Robinhood, which is backed by Thai lender Siam Commercial Bank Pcl, and AirAsia Superapp.

The capital injection will help Lineman grow from “a local Thai start-up to a regional tech platform,” said chief financial officer, In Young Chung.

He added the company plans to have an initial public offer (IPO) but did not provide a timeframe.

The company was formed last year after Lineman and restaurant aggregator Wongnai formed a joint venture and raised US$110 million from BRV Capital.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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